Lithia Motors (NYSE:LAD) Sets New 52-Week Low - Here's What Happened

Lithia Motors, Inc. (NYSE:LAD - Get Free Report)'s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $280.95 and last traded at $293.02, with a volume of 476579 shares. The stock had previously closed at $292.40.

Wall Street Analyst Weigh In

LAD has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on Lithia Motors from $397.00 to $308.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. StockNews.com upgraded shares of Lithia Motors from a "sell" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI upped their price target on shares of Lithia Motors from $400.00 to $440.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Benchmark reissued a "buy" rating and issued a $400.00 price objective on shares of Lithia Motors in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. cut their target price on Lithia Motors from $420.00 to $360.00 and set an "overweight" rating on the stock in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Lithia Motors presently has a consensus rating of "Moderate Buy" and a consensus price target of $361.20.

Lithia Motors Trading Up 0.8 %

The firm has a market capitalization of $7.71 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 4.65 and a beta of 1.48. The stock has a 50-day simple moving average of $299.01 and a two-hundred day simple moving average of $340.27. The company has a current ratio of 1.19, a quick ratio of 0.28 and a debt-to-equity ratio of 1.22.

Lithia Motors (NYSE:LAD - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $7.66 earnings per share for the quarter, missing the consensus estimate of $7.77 by ($0.11). The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.19 billion. Lithia Motors had a net margin of 2.21% and a return on equity of 12.43%. The business's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.11 earnings per share. On average, equities research analysts anticipate that Lithia Motors, Inc. will post 34.45 earnings per share for the current year.

Lithia Motors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.74%. This is a positive change from Lithia Motors's previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Friday, May 9th. Lithia Motors's dividend payout ratio (DPR) is presently 6.93%.

Insiders Place Their Bets

In other Lithia Motors news, insider Gary M. Glandon sold 325 shares of Lithia Motors stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $387.86, for a total value of $126,054.50. Following the transaction, the insider now owns 1,665 shares in the company, valued at $645,786.90. The trade was a 16.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shauna Mcintyre sold 337 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $295.94, for a total transaction of $99,731.78. Following the sale, the director now directly owns 1,632 shares of the company's stock, valued at approximately $482,974.08. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,583 shares of company stock worth $533,455 over the last 90 days. Company insiders own 0.87% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LAD. Norges Bank acquired a new stake in shares of Lithia Motors in the 4th quarter worth $152,752,000. Egerton Capital UK LLP purchased a new stake in Lithia Motors in the fourth quarter valued at about $113,250,000. Steadfast Capital Management LP boosted its holdings in Lithia Motors by 137.8% in the fourth quarter. Steadfast Capital Management LP now owns 460,298 shares of the company's stock worth $164,524,000 after acquiring an additional 266,715 shares in the last quarter. Madison Investment Advisors LLC purchased a new stake in shares of Lithia Motors during the fourth quarter worth about $91,190,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Lithia Motors during the fourth quarter valued at about $46,505,000.

Lithia Motors Company Profile

Lithia Motors, Inc operates as an automotive retailer worldwide. It operates in two segments, Vehicle Operations and Financing Operations. The company's Vehicle Operations segment sells new and used vehicles; provides parts, repair, and maintenance services; vehicle finance; and insurance products. Its Financing Operations segment provides financing to customers buying and leasing retail vehicles.